hand-tossed fresh dough. available in canada. >> this is something i got to get it. we love pizza. think about it. >> donuts for me. >> okay, all right. you guys are fantastic. >> capitalism at its best. >> that's all the "money" we have for you today. see you here tomorrow. go st. stevennings of hungary, fantastic. "the willis report" is up next. ♪ gerri: hello, everybody. i'm gerri willis. there's just 25 dais left to stop the u.s. from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but

it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week.

i'm in new york tomorrow looking at the hospitals affected in hurricane sandy, and i feel like i need to do the ground work to investigate that for myself. gerri: you're doing work, but not all the people you work with in washington are. some are just taking time off before the holidays when this big issue is on the plate. nancy pelosi had to say about this. >> we should be here and came as a surprise, and i'm really surprised that the republicans would leave. we maim in tuesday, and we left wednesday at twelve o'clock noon. with all that needs to be done, avoiding the conversation, sounds like people don't want to be in town for some reason. gerri: does she have a right -- are the republicans trying to avoid the conversation? >> no, absolutely not. we had a hearing this morning in the joint economic committee on

this issue, but, you know, it's difficult. it's a one-sided conversation. we have put proposals out in may. there was a proposal or reconciliation bill to stop or reapportion the sequester that's going to happen on january 2nd, in july, passing a bill extending all current tax rates, additional 12 months to allow time to undergo tax reform which, i think, this is the big moment. this is the time to accomplish things. gerri: if it's a big moment, nothing's happening, and it's getting silly. i mentioned before that reid is spending time figuring out if they can get unbuttered popcorn into watch "lincoln" rather than doing heavy lifting here figuring out what to do about the fiscal cliff k and -- cliff, and now simpson is silly too. look at simpson dancing. ♪ gerri: so this is simpson with

his program, the can kicks back, a play on kicking the can down the road. will this get the bowl down the field? >> what people are not notices right now is that under current law, existing tax rates are going up a lot january 1st. gerri: right. >> the president says, oh, go back a little bit to clinton's old tax rates, but he's not because clinton's rates affected everyone, not just the small sliver of the population. a 3.8% unearned income tax is kicking in on january 1st. gerri: obamacare. >> capital gains going from 15% to that 25*%. dividend taxes going 15% to 44% under current law without a thing done as far as the president obama wanting the taxes on the rich to go up. he's already done it. there's 1% medicare tax on people who earn over $250,000 a year. gerri: income tax.

>> a payroll tax strictly. it's added to the medicare tax that's taken out, makes a small stop in the trust fund, and funds another program that the president likes. this is the problem. the president is not hoonest with us or the american people. he tells you he loves you and wants to take care of you, but the fact of the matter is, he's going to raise your taxes to a level that, in fact, it's going to kill economic activity in the country. how do we know? look what's happening. on your crawl on the television, dividends paid before december 31st, and why? that behavior's driven by changes in the tax code that are existing law. he's counting on people not paying attention to that. it's the holidays, that's right. they are preparing for christmas, but they have to be worried # about the tax code. gerri: a tax revolt. you'll get more of the same if december 31st passing and nobody does anything. i think everybody's right up to here with what's going on, and you are so nice to talk to us about it.

really appreciate it, congressman. >> well, the president has a mandate to raise taxes. i won election. i didn't run on raising taxes on anybody. i have a mandate as well. gerri: all right, thank you, and should congress and president stay in washington until the cliff is resolved? log on, vote, and i'll share the results at the end of the show. put them in a room, lock the door, throw away the key. it's a thought. with negotiations stalled, thous out of town, going over the cliff? let's did douglas holtz-eakin, the former cbo director. doug, the house is gone. they are on vacation. how did the people leave? we have the biggest fiscal crisis of i don't know how long, something to do something about it? it's one thing to have a big recession. it's another thing when the

problem is of your own creation, and you turn your back on it. what do you make of this? >> well, it's a very dangerous situation. if we go over the cliff, the taxes go up $39 # -- $395 billion, spending slashed, a plunging economy, a recipe for a recession, something no american needs to hear about now. getting past the fiscal cliff is an imperative. we are having a one-sided conversation. the republicans have put out a plan saying raise revenue from reach people, banseed, spending cuts, and that landed with a thud over in the white house, no response, and the president has yet to put out a balanced plan, and what we got is i want $1.6 trillion in tax revenue. give it to me. gerri: and rid of the debt ceiling. >> we've seen this movie before. no ceiling, give me the revenue,

i'll spend it. now what? until cuts are in place, this doesn't make sense. gerri: i want to hear what ann coulter said about the debate. >> don't cave on everything, but republicans feed into what the media is telling america -- >> wait a minute, i want to understand. you are saying then for pr purposes, they should give into obama on the tax rate. >> not exactly. well, yeah, i guess i am -- >> you're saying obama, who is -- we don't have a revenue problem, ann. >> we lost the election, sean. gerri: what do you think of this? as a strategy, maybe it's the right thing? acknowledge that the american people voted for the president, put him back in office. it's all on you. >> well, it's simple, i think. republicans are cognizant of what the people said. the plan they put out raises revenue on rich people.

they are asking for the president to give a response including both tax proposals and the spending proposals that are necessary to make the plan be balanced, and they'll negotiate from there, from the second day after the election, speaker boehner said we hear the american people, they want washington to work, that means compromise, leadership, but, you know, we're not seeing all the pieces yet. gerri: what do you think of the idea of saying, okay, democrats, it's on you. you want to raise taxes? you want to flirt with putting the economy into recession? have at it. >> that is essentially what the white house is up to right now. they said, in an era where americansment compromise, the president not compromising, this is what i want, and for that political agenda, i'm willing to go over the cliff. the secretary of treasury, the highest economic officer in the land said, oh, yeah, we're prepared to go over the cliff. that's telling the american people we don't care about the recession, unemployment that creates, we have an agenda, and that's more important. gerri: the k0*s of that could be

the lost of 700,000 jobs, up to 2 million jobs, a recession, everybody predicts that. i want to talk to you, though, about the debt limit. we talked about that for a few minutes. an economist at moody's advising the president over a number of years had this to say about getting rid of the debt ceiling limit. we need to get rid of the ceiling law, it's a problem. what do you say to that? >> it's from a hundred years ago, and it was put there for a reason, a part of the balance of the powers for the congress and the white house. it's not a problem. the problem is the debt. the debt ceiling is not the problem. the debt ceiling is an artifact, the fact we have too much debt, more debt, and the problem arises when in raising the debt ceiling, one side fails to acknowledge that you have to control the debt, and the only way to do that is have real spending proposals that cause spending to grow slowly. that's the problem, not -- gerri: the president is not

showing control at all when it comes to spending, but maybe then, talk about the debt ceiling, but without that, we're protecting ourselves. it's our checkbook; right? >> right, and, gerri, i've been in washington now for quite a while. the town loves talking taxes, but taxes have gone up, down, sideways. spending just goes up. focus on the problem. gerri: budget gets bigger and bigger. every year it ticks higher. douglas holtz-eakin, come back soon. >> my pleasure, thank you. gerri: thank you. more to come this hour including a look ahead to tomorrow's big jobs report, and, next, as the u.s. is set to be energy independent in a not so distant future, one group is working to stop that. i'll break down how government is working to stop oil and gas exploration. that's coming up next.

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gerri: meet what they call the lesser prairie chicken. i like to call them loui. he's not attractive, is he? he's not the bigger prairie chicken, but the less prairie chicken. he lives in colorado, new mexico, and oklahoma, the same places rich in oil and natural gas. the base basin, for example, strait ling texas and new mexico supplies 70% of the lone star state's production and 20% of the nation's production, but not if the u.s. fish and wildlife service helps it. they are trying to get he and the relatives declared endangered meaning the specie would be directed and drilling halted. sound familiar to you? well, the same thing happened with the dune sage brush lizard which i call lizzie.

we told you about this. story's the same here. another specie's who is natural habitat is texas. the state worked out a plan to please both environmentalists and the energy industry, but it's an open question what'll happen to lilly. what's disturbing about the story is the federal government appears to be using the endangered species agent as a weapon against the oil and gas industry. this, despite the fact, president obama, like every other president, called for the nation to be energy independent. now, let's face it. it's hard to do that if you don't drill. at any rate, there is good news on the topic. the u.s. poised to become energy independent over the next three decades, no kidding, by 2040. the reason? not obama's policies, no, crude oil production is rising fast to 7.5 million a day in 2019. natural gas is also booming and will continue booming through 202440. in just eight short years, it's

27% of total energy production in the country. that's all good news. more production, more independence from middle east countries that don't like us in the first place. if you are thinking about what about lily and lizzie? this is the golden eagle. we had one on the show. the species threatened by wind meals in california. the wings get caught in the wind wheels, and they did they are not protected because, well, presumably, wind energy is one of the pet causes of the administration. some species are more important than others. what we need to do is embrace the energy production we are doing which can make us self-sustaining and more powerful, and that is a good thing for lily, lizzie, the golden eagle. all of us. what do you think? at gerri@foxbusiness.com. >> coming up, will an ugly

employment report be the result of sandy. the harvard economist looking ahead to tomorrow's job numbers next. homeowners running from their luxury homes as the so-called fiscal cliff looms. asking barbara if you should run for the hills too. investors deciding not to take a bite out of apple after the market cap takes a nose dive. will the tech giant be able to regain its shine? we'll find out later. we're on the case, next, on "the willis report." you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barer thahat helps block stomach acid from splashing up- relieving the pain quickly.

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i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. gerri: unemployment past 8% in a new gallup survey. what's that mean for the jobless figures out tomorrow? that's next.

gerri: november's job repoot

released early tomorrow morning, and now that the election is over, what will the numbers show? the unemployment rate expected to be unchanged. here's the expectations, 7.9%, with 93,000 nonforeign jobs -- nonfarm jobs added. welcome back to the show, great to see you, jeffrey. i understand that you think they will be collared dramatically by superstorm sandy? >> well, i think there's an effect. one can easily overstate that. sandy affected new jersey hobbly and new york symptom, but not the whole country. i think the unemployment numbers and the employment numbers reflect concern about the fiscal cliff as much as sandy, but they also just reflect the fact the economy's still growing, but growing slowly as it has been for basically three years now, and wii not going to get big reductions until something gets the economy energized again. gerri: growth at 93,000 jobs.

that's not inspiring. that's worrying. that's not enough to get us going. >> you need something like 150,000 or 200,000 jobs -- gerri: or more. >> or more: we have rarely hit that in the last three years, only a few times, and on average, well below that. again, it comes down to the fact that i think people's expectations of what u.s. policy's going to be are dramatically affected by fear over higher taxes, regulation, spending that's not controlled, and so expect a slow growing economy which is exactly what we had, and i fear we'll continue to have that. gerri: right. not good news for anybody out there. reliable the numbers are now. remember, before the election, questions about how it was counted. were the numbers accurates lots and lots of revisions. do you feel we can trust these

numbers? >> yeah, i think we can trust the numbers. i think it would take a heroic conspiracy by people at the bureau of labor statistics are in the administrative branch nrd to cook the numbers. there's volatility, and revisions, but i don't think that's theeissue. the issue is the policies we're debating in the context of the fiscal cliff. gerri: it's interesting you say the impact of the fiscal cliff impacting manufacturing here. how do you see that? >> i mean, if it's going to impact manufacturing, but business generally. care about the manufacturing sector certainlily, but there's all sorts of activity, where it locates, and whether it's building, expanding, or contracting. manufacturing is just a piece of the overall pie. there's tons of other stuff. gerri: tons. jeff, you know, the federal reserve seems to uphold every trick in the book and made up more to get the economy going.

they say they'll continue some of the strategies. is that going to have any impact at all? is that beyond the reach of the federal reserve at this point? >> i personally think that's beyond the reach of the federal reserve. of course; if they change policy, did something awful, that would be harmful. their ability to make a difference is incredibly limited at this point. i think it comes down much more to tax policy, spending policy, regulation. i think the fed did what it could do avoided, okay, a huge liquidity crisis in 2009 providing low interest rates plausibly helpful, okay, in the immediate aftermath of the crisis, but at this point, little impact. gerri: thanks for the preview, jeff. appreciate your time. have a great weekend. >> thank, you too. >> reporter: -- gerri: the michigan state house voted along party lines turning michigan into a right to work

state. democrats tried to stall with questions and amendments, and as the senate debated legislation, 2500 union supporters tried to rush the chamber. some of the folks were bussed in. michigan state police used spray on them after people refused orders to stop. it's getting violence out there. eight people arrested. the governor said he'd sign the bill. we'll continue to follow the story. still to come, obamacare is bad for business, but it turns out, so is speaking out. i'll explain. the fiscal cliff aiming at the housing market. will the recovery disappear if we fall off the cliff? we'll get advice. stay tuned. ♪ now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention.

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gerri: is another

taxpayer-funded bailout coming down the pike? nation's top housing official facing a firing squad of questions about just that today. hud secretary sean donovan defending the federal hoisting administration in front the senate banking committee, tough questions. an audit shows the nation's agency faces $16.5 billion in losses. 16 billion. donovan says they have already taken steps to strengthen finances but haven't gone that far. >> based on all of that do you expect a taxpayer bailout as you sit here today? if so when? >> based on those steps i believe we've have significantly decreased the chance of having a bailout at the end of the 2013 or having to draw on the treasury. i'm not going to assign a probability at this point. gerri: read, it could still happen. republican senators didn't accept that answer. morph be done ending fha

back of reverse mortgages. they said the fha sustained big losses for defaults on those loans, allowing older homeowners to borrow on their equity. and mortgages that can be insured by the fha. >> it is time i believe to get serious reform of fha before it needs a taxpayer bailout, if it isn't too late already. gerri: and donovan agreed the changes would be helpful but pointed out it is up to congress to make those changes, not the fha. so in order to avoid another massive taxpayer bailout we need congress to act? they're so good at that aren't they? i doubt it. as the future of housing hangs in the balance our gridlocked congress is doing nothing at all. the fiscal cliff already taking its toll. rich homeowners in the pants hamptons. millionaires are dumping digs at discount prices before capital-gains tax rates are expected to jump january 1st.

for more let's bring in real estate mogul barbara corcoran, founder of the corcoran group. welcome back to the show. >> thank you, gerri. gerri: always great to have you here. do you think people out there dumping properties in advance of december 31st? >> first off, they don't have very much time left. it usually takes more than two or three weeks to sell a house. what is more the truth people are using it as excuse. i will get a great deal on my house only if you close by december 31st. doesn't really happen. gerri: it is a good negotiating tool. >> it is a good little trick a3 million house selling to a guy with $3 million to spend. guess what? he will not fall for a trick like that. -phe will negotiate hard like he always does. gerri: talk about one of those issues that has been at the margins of the conversation on the fiscal cliff. do we get rid of the mortgage deduction? lo the proves and cons. people from the -- lots of pros and cons. they say it will cost 15% of the off housing prices lopped off.

what do you think the same pack will be? >> i don't think it will have that effect. what usually happens when you have really bag news, people pause for a moment, absorb it and move on. what we have going on is so much push in upward momentum in the housing market i can't even fathom that affecting housing prices. hardly at all quite honestly. gerri: do you think that first-time buyers in particular rely on that deduction? they're thinking about that deduction when they make the decision to buy? might it discourage people that otherwise might get into the market? >> we'll said, for some people it will make them pause a bit. it sounds so good to buy. they're tempted back in the market by cheap prices and cheap money. those are giant momentous things that happen that push people back in. gerri: i think this is a great time to be in the market. in some places though have you actually missed it? >> i think you've missed, if you really want to be a sharpshooter if you want to buy at very low, you missed 2/3 of low points of every market in america.

only one-third is still depressed. 2/3 are going up and some at record numbers. gerri: if you were looking right now, where would you look? where do you think the opportunity is best? >> i think certainly the opportunity if you want to get a steal after deal in descending order, buy oceanfront or bayfront house in the northeast. anyone on the with a house on the market for three months that hasn't sold it will discount it. gerri: sandy is an issue. >> sandy is a issue. it is temporary. people absorb the fear and move on. it is a great time to buy. time-shares are still lange wishing. i know, who wants a time-share? if you want a time-share you could get it for 30 cents on the dollar. gerri: wow! that is big discount looking for a discount out there. that is great advice. what other advice can you give to people trying to get rid of their house right now? they're trying to sell, trying to unload a house? maybe they lost a lot of value in that property? >> listen, it is no fun to lose value in a house and have to adjust to the idea you're going to get less money but what is great

about the market less now you have another 30% increase in buyers out there. you have one-third fewer homes for sale. you have less competition and more people who want them. you have also out there is buyers are believing that the best part of the market might be gone. and that really pushes them into the market and gives you a higher bid. i think homeowners right now the best is yet to come. for buyers, the best already has happened. gerri: i have to ask you this. people tell me all the time. i hear it from people. they're not experts from the housing market but this is what real people think about it. gerri, i saw what happened in 2007, 2008. i'm never going to buy because you know, you never know what is going to happen, barbara. >> guess what? they will not wind up in the house with the best school district. will not wind up on the prettiest block in prettiest town in the best appreciation. they will not brag to the neighbors how pretty the house is showing it off to the mother-in-law. they will be sitting there six years too now, what was i thinking i could have gotten the house 40% less

than what i'm paying this year. you tell your friends? they're not thinking right. really. gerri: i so agree with you. that is absolutely right. it a market. it goes up. it goes down. it went down for a long time. >> you know what? i will sell you a house. gerri: sure, sit down. i have a couple places. thank you, barbara. always great to have you here. >> thank you very much. gerri: when we come back, what has happened to apple? our investors over it already? do people not want politics with their pizza? after a handful of big name eateries came out against obamacare, business was anything but booming. is that the reason? details next.

gerri: obamacare, taking a huge bite out of hearing's favorite restaurants. brand perceptions of papa john's, applebee's, denny'ses taking a hit after their head honchos told the

public that the controversial law would cause them to cut workers around raise prices. papa john's and darden restaurants which operates olive garden and lobster. is the anger misdirected. ought tlor of the revenge of brand x. how to build a big-time brand on the web or anywhere else. rob, thanks for joining us. why is it these brand are taking a hit right now? what is it about the message that the ceos put out that the public doesn't like? >> well, first of all, it's great to meet you, gerri. gerri: thanks for coming on. we appreciate it. >> yes. first of all you've got to realize this is comedy of errors. it is a confluence of branding mistakes and i must tell you that overall, what this really is a lack of brand strategy on all the brands you mentioned. they are actually incredibly inept at handling their own brands. gerri: well, if so, what do you think the ceo's did wrong? >> well, it is really interesting.

we have a joke how do you know the agency is, you know, in danger of losing an account? that is they put the ceo in the commercials. that is guarrnteed to keep it for a year. they're terrible. gerri: chief executives that they actually spoke out, am i right? >> when they're this bad at doing it, you bet. absolutely. the thing is, this isn't really such bad news. obamacare in and of itself and expenses that go with it, this is no different than having the airlines pass on a fuel surcharge. okay, you paid an extra nickel. you still have to fly and still got to eat. not like a big thing. guys doing it are not trained to give that news and ceos are just the worst. gerri: i have to disagree with you here. this drives me crazy, when people say, you can't speak your mind because some fancy pants marketing scheme doesn't accommodate that. i mean come on. shouldn't these ceo's say what they think about these policies? >> oh, it is totally fine if

they say what they think just that they're so bad at doing it. you can still make your point. for example, why wouldn't they just, look, brands are about creating trust. so why wouldn't a ceo just say, hey, folks, this really sucks. i'm going to have to, i'm going to have to pass on these charges. i'm going to have to deal with these overhead issues but i want you to know, we value you as a customer. we'll go ahead and do it, even though it is not the favorite pill for us to swallow we're doing it, you know what? we care about you and care about all americans. they could make that choice. gerri: first of all you wouldn't have the ceo say the word sucks publicly. that would never happen, right? >> it would get him attention. gerri: but in the second place i don't think that, i think that these ceo's should feel free to express themselves without having to add that extra verbiage that we care and love you. i don't think regular americans buy that anyway. i don't think anybody is waiting to be told by the operator of their fast-food restaurant that, you know, you're my best friend?

>> well, no they're not waiting to hear that and i'm not suggest thank you would actually tell them that. on the other hand, let's face it we're in business to make money and it is in my interest, myself interest to keep customers coming back. i don't want to have to constantly be swimming upstream against doctors and dietaries and government programs telling me what i'm selling you is terrible. i rather keep you healthy and keep you coming back. the stuff is coming down the pike anyway. why not put the best spin on it, man up, deal with it. gerri: that is an interesting point because i believe one of the pizza makers is saying they have to put out all this labeling on the dietary consequences of what they're serving they say, we make pizzas for a living. there are a million combinations that you can put together. the signage on this thing will be atrocious. how would you handle that? >> oh, i would tell them to grow up already. you know, come on, people, this is a different time and a different era. people that do care and, i hope there are some out there, they need and want that information.

if you give me that information anddi want it, guess what, i'm coming back because you do. that is part of this process. gerri: people want the information are the people at the fda i just, if you don't -- >> wait, wait. i got --. gerri: don't know hamburgers and pizza has a lot of calories, come on, where have you been for the last 20 years. >> you're right. let me give you perfect personal example. if i go into a restaurant and my daughter wants to order, my daughter who is diabetic, wants to order caramel topping she needs to know what the cache count is. -- carb count. gerri: that is why you need to be with her. she needs a parent there. >> are you kidding? we're about self-sufficiency and empowerment that is what a good brand would do. we care about. we're not your mothers but we want you coming back and we're interested in your welfare too. gerri: oh, boy. all right. >> if you guys knew how to

spin it their brands would be definitely impacted. gerri: i'm not for spinning. i have to tell you i have a lot of respect for those guys for failing to spin. we invite them on here every day to do just that. rob, thanks for coming on and explaining the marketing consequences of this i appreciate it. >> okay. it is not spin. it is wine. gerri: wine or whine? >> you got it right the first time. gerri: thanks, rob. >> see ya. gerri: still to come, two cents more on irony at white house and has the shine come off of apple, the world's biggest company. is it still a major buy? that's next. ♪ [ male announcer ] this is the age of knowing what you're made of.

wh let erectile dysfunction t in your way? talk to your doctor about iagra. ask if your heart is healthy enough r sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset smach, and abnormal vision. to avoid long-term injury, seek immediate medical help foan erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. gerri: apple's market cap falling below 500 dal

billion. what that means for the future of the company and shareholders. is the stock still a buy?

gerri: apple's market cap taking a serious hit, dipping below 500 dal the worst one day fall in four years after analysts warned about the company's future competition in the tablet computer market. others that is, blame yesterday's six 1/2% slide on investors selling for profit ahead of the looming fiscal cliff. the stock rebounding slightly today following ceo tim took's announcement bringing some manufacturing of the mack computer back to the u.s. we have gary kaltbaum from kaltbaum capital management. you have actually said the

smartest thing i heard about apple. you say don't confuse the stock with the product. >> now look, they're selling a ton of products but here is the biggest issue for me. sales growth and earnings growth declined. simple as that. they were growing 50, 60, 70, last couple of quarters into the 20s. the market may be speaking up. remember something important about cycle of a great stock. this stock went from 15 to 700 since they came out with the ipod. every great stock has a shelf life. we can go back to the late '90s in techland you had to own cisco, microsoft and intel. they got too big. earnings decelerated and they were sent back into oblivion. i am not saying the same thing will happen to apple. the stock is in trouble here and big money crowd continues to sell. gerri: do we love apple's stock too much? is that what is going on here? it is overowned. everybody owns it. everybody loves it. if anything goes wrong there

is only one thing left to do, that is selling. i must tell you a lot of big funds have 50 to 100% of their dollars in that one stock, apple because they made so much money from it. they don't want to let go of it because done so well in the past. tough be careful about that. i'm a big believer in reality. what is happening with the stock right now? there is no doubt that the hands have been raised. there is lot of selling. what i tell people right now if you're going to do any buying make sure you have a lot of tums. you will see some wide swings. today there was a $35 swing in the first hour today. that's what happens when you get this wide and lose trading. gerri: wow. >> the analysts coming out upgrading downgrading, raising targets, saying everything is okay. i tell you to be careful here. gerri: you make a good point how widely-held this stock is. a lot of mutual fund managers bought in. whether or not they're supposed to be buying growth stocks or tech stocks. the stock is on tear. >> bingo.

gerri: they will throw it into the fun. we may have a full screen with some of the big owners of that stock but i have to ask you what other stock is so influence wednesday with its products? is there anything to compare to apple? >> i don't think there is anything close to apple at this point in time. as a matter of fact, not even, any, not even close to close. they are a dominant force. they're an important cog in the market. i've been trying to tell nasdaq and nasdaq 100, they need to change how much apple is worth to the indices. when it dropped 6% yesterday, it made the nasdaq and nasdaq 100 dropped too much. they need to change the dynamic especially if things worsen. gerri: as you look forward, do you think this stock changes dramatic its fortunes? does it go down more, a? and b, they will start manufacturing here in the states. sounds to me like almost a political move. is that good news for the stock or bad? >> doesn't matter to the stock.

tim cook is smart. most of their employees are contract workers are in china. there is only 40,000 here. he was quoted saying we've got to do something about jobs in the united states. i think that is somewhat political move. the big story going forward as i see it, competition really picked up when competition picks up, usually margins get squeezed a little bit. when march twins are squeezed, profits are affected. when profits are affected stocks react negatively. i think you're seeing that right now. i think the stock is forecasting it. gerri: tablet market is amazing. we looked at five different products yesterday. everybody has got one. ipad does not have the market cornered anymore. gary, always a pleasure to have you on the show. thanks for coming on tonight. >> always my pleasure, thank you. gerri: yes, it is fiscal cliff season and it is christmas season but also oscar season when some of the most critically a claimed of years are released and moviegoers

flock to see the best of the best. there are some films that few actually go to even though they star some of the biggest names in hollywood. those stars make up tonight's top five. the most overpaid actors. number five. jack black. i love jack black. yes is still making movies. the latest film, "the big year" only $7 million. for every dollar hh was paid his films return $5. not good enough. number four, sandra bullock. i was surprised to sigh her on the film. since the osccr-winning role on the blindside have been all flops on the box-office. number three, reese witherspoon. one of the most popular actressess she is from the south. that is good thing but apparently makes bad decisions what she does. her last two, practically unheard of film "this means war". all bombed. i never heard of that. for every dollar she gets paid her films return less than $4. number two, emmy winner catherine heigl.

her first two films out the gate, were surge successes. last film, "one for the money" earned $7 million. cost 40 million to make. most over paid actor, you won't believe this, eddie murphy. his last film, "the tower heist". his last hit that was not animated. his films return two bucks. interesting stuff. back with my two cents more and the answer to our question of the day. should the congress and the president stay in washington until the fiscal cliff is resolved? [ male announcer ] at scorade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 lotions, where our dedicated support teams help you know more

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gerri: less tan a month to go, members of the house, they are leaving washington for a long weekend breaa. is now the time to head out of town? i ask you that. should they stay in washington

until the fiscal cliff is resolved? 87% of you said, yes, and 13% said no. log on to gerriwillis.com for the online question every weekday. finally, president obama is meeting with everybody these days other than republicans on the fiscal cliff like progressive members of the media, and by that, msnbc anchors like al sharpton, and he's the perfect guy to talk about taxes, part of the 2%, making $250,000 a year from the national action network, and earns money from msnbc, and he knows not how to pay taxes,. he has a million more in state taxes. that's just him. his group owes $800,000. this is not the first time he shortchanged uncle sam. twenty years ago, pleaded guilty